B0406
Bus.Ops
Financial management principles for the new manager
All
Key topics covered:
- Understanding a profit/loss statement
- The difference between profit and cash (i.e., non cash items such as depreciation)
- Effective Budgets – cash and profit forecasting and why the 2 aren’t the same
- Asset Utilisation – why effective asset usage is necessary/ opportunity cost of idle plant
- Labour Utilisation – costs of idle labour
Learning Outcomes:
- To be able to differentiate between accounting profit and cash
- To understand basic budgeting
- Identify when plant and labour are not being used effectively
- Enhance project tenders and understanding of the financial key to a successful civil contracting operation
Who Should Attend
Prerequisites
Duration
Supervisors with 0-7 years experience,including leading hands or engineers.
None
4 Hours